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One of Canada’s largest pension funds is poised to help the Crown Estate to pay for a development in the historic St James’s district in Central London.

Oxford Properties — the property division of the OMERS pension fund — is understood to be close to securing an exclusive position on the £320 million St James’s Market scheme.

Last September, the Crown Estate, which manages more than £8 billion of property on behalf of the Queen, unveiled its plans for the area between Regent Street and Haymarket. St James’s Market is the lead scheme and involves the redevelopment of 14-20 Regent Street and